Bitcoin

Read

Bitcoin miner Hut 8 is expanding its partnership with Bitmain to introduce a new ASIC miner with direct liquid-to-chip cooling, set to deploy in Q2 2025. 
Miami-headquartered crypto mining firm <a href="https://crypto.news/tag/hut-8/" target="_blank">Hut 8</a> has expanded its partnership with <a href="https://crypto.news/tag/bitmain/" target="_blank">Bitmain</a>, announcing the upcoming launch of the U3S21EXPH, a next-generation ASIC miner capable of reaching up to 860 TH/s. 
In a Sept. 19 <a href="https://www.globenewswire.com/news-release/2024/09/19/2948780/0/en/Hut-8-and-BITMAIN-Expand-Innovation-Partnership-with-Launch-of-Next-Generation-BITMAIN-Miner.html" target="_blank">press release</a>, the company the miner, which is scheduled for deployment in Q2 2025, is the first mass-commercialized ASIC model to feature direct liquid-to-chip cooling in a U-form factor. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “We believe this model represents a more thoughtful approach to capturing the lucrative economics offered by next-generation machines, reducing upfront capital requirements while we continue to pursue growth initiatives in AI infrastructure.” 
 Asher Genoot, Hut8 chief executive officer 
</blockquote> 
 You might also like: <a rel="" href="https://crypto.news/how-mining-is-affecting-ukraines-electricity-system/"> Mining is thriving despite everything: How is it affecting Ukraine’s electricity system? </a> 
Under the hosting agreement, Hut 8 has the option to purchase all or a portion of the hosted miners in up to three tranches at a fixed price within six months of deployment. If Hut 8 exercises the option in full, the company’s self-mining hashrate is expected to increase from 5.6 EH/s to 20.6 EH/s, the press release reads. 
The agreement is designed to minimize upfront capital expenditures and provide flexibility for future purchases, allowing Hut 8 to assess market conditions “before committing additional capital,” per the document. 
The news comes after Hut 8 <a href="https://crypto.news/bitcoin-miner-hut-8-secures-150m-funding-to-build-ai-infrastructure-platform/" target="_blank">secured</a> a $150 million investment in June from Coatue Management to accelerate its artificial intelligence infrastructure development. At the time, Hut 8 said the investment was made as “many traditional data center operators are failing to meet the surging demand for AI compute capacity due to power shortages.” 
 Read more: <a rel="" href="https://crypto.news/bitcoin-miner-hut-8-secures-205mw-site-in-texas-to-upgrade-its-capacity-to-1-3gw/"> Bitcoin miner Hut 8 secures 205MW site in Texas to upgrade its capacity to 1.3GW </a>

Hut 8 deepens Bitmain partnership with launch of new ASIC miner in 2025

crypto.news

Other articles published on Sep 19, 2024

Top Solana DePIN Projects Shaping the Future – Part 2

WazirX Hacker Launders $12M in Ethereum Via Tornado Cash

Bitcoin surges past $62K following FOMC’s 50bp rate cut

Investors Embrace New Opportunities as Binance Futures Launches FIDA Trading

Metaplanet’s Bitcoin Bet Pays Off: Stock Soars 443% Despite BTC Dip

What Is the Telegram-Based Catizen Game?

Join our free newsletter for daily crypto updates!